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Usually they will redirect the victim to go to police for further help.

From my opinion police will also not be able to help you much in this case as often such financial frauds happen far away in a different country.

If a bank account is hacked and the hacker/cybercriminal starts making online purchases using the stolen card information, bank account user name, password and/or PIN most of the victims expect the banks to repay.

The banks however, refuse to help the victim on the grounds that the transaction was done with the actual card and the exact password and PIN was entered.

When your bank account gets hacked and money gets transferred online one should follow the steps given below to avoid further losses: What to do to recover lost money from hacked account: In case of online transactions we have a fair chance of recovering/blocking the transaction if we act within 24 hours from the date and time of the fraudulent transaction.

Bank will always try to put the blame for card fraud on you.So no matter how hard you try to convince them, it just amounts to a lot of frustration.One should understand the basics here, the bank is right at its place when it is refusing to pay.In this post I will be referring to only those financial frauds that are done online.I will not be talking about frauds resulting because of physical loss of credit/debit card or ATM cash withdrawals.

For example if you transfer money to the scammer by say Western Union or Money Gram and you realize that it was scam in less than 24 hours you have very good chance to get your money back.

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